Adpol window and door producer plans three acquisitions and an IPO

28-05-2007, 10:15

Warsaw (Puls Biznesu) – The company would like to  be listed at the end of next year. It hopes to raise funds to be spent on  acquisitions.

 

Door and window producer Adpol wants to be listed on the Warsaw Stock Exchange.

“Big western European companies want to buy us but we are not interested in this option. We plan an IPO in the fourth quarter of 2008. We want to get well prepared for the IPO, first of all be increasing turnover”, Adam Daszkowski, Adpol CEO said.

In 2006, the company had PLN 700,000 (EUR 183,400) of net income against PLN 400,000 a year earlier while the turnover amounted to PLN 36m (PLN 25m a year earlier).

“This year, we plan PLN 2m of net income and PLN 45-46m of turnover”, the CEO added.

 

The company thrives on dynamic exports, especially to Scandinavia and the UK, which generated 40 percent of turnover last year. Adam Daszkowski refused to say how much funds he would like to raise on the WSE. He says what the funds would be spent for, however.

“To develop the plant which we could enlarge by 15,000 square meters and to consolidate the sector. We want to acquire two-three smaller companies. The transactions would cost several to about a dozen million zloty”, Adam Daszkowski revealed.

 

The plant in Chelmza producers 120,000 windows and doors annually. The company has invested PLN 500,000 in new machines and is going to spend further PLN 1.5-2m to develop and modernize the plant.

(PLN 1 = EUR 0.262)

 

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Inne / Adpol window and door producer plans three acquisitions and an IPO